Matrixport: Bitcoin is in a consolidation period and may reignite its rally in 2025
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Odaily reports that Matrixport released a chart today, indicating that Bitcoin is currently digesting the recent surge in the past few weeks. During this period, the open interest of futures contracts has surged from $18 billion in October to $29 billion, an increase of 50%. Meanwhile, the Bitcoin funding rate has skyrocketed from 10%+ to a peak of 80%+. Historical data shows that after such a rapid build-up, there is usually a brief consolidation period, followed by a continuation of the bull market. This pattern may emerge again, especially during the relatively low trading volume of the Christmas holiday. Traders are now turning their attention to the new year, hoping for new capital inflows to drive prices higher and reignite the uptrend.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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